IndusInd Bank launches tractor and farm equipment division

MUMBAI: Private sector lender IndusInd Bank launched tractor and farm equipment finance vertical to cater to financial needs of agricultural community.

The bank has announced flexible schemes for rural population to encourage easy payment options from time to time with hassle-free documentation, the bank said in a statement.

"Recognising the various and hugely differentiated needs of farmers, IndusInd Bank assures in providing solutions to enhance agricultural productivity through steady stream of finance," bank's consumer finance division head S V Parthasarathy said.

It will offer funding with a customised payment option based on harvesting patterns for agricultural as well as commercial use.

The bank will also ensure quick processing where the loan will be processed to farmers within four working days, the statement said.